Politics

A new strategy for Gazprom

March 11, 2013 12:33 pm by Nick Butler

The rumours that Vladimir Putin is about to replace Aleksey Miller as the chief executive of Gazprom continue to swirl around the markets across Europe. As usual it is hard to know what is true and what is dreamt up by Mr Miller’s enemies. Removing Mr Miller would not, however, solve Gazprom’s problems. What the company really needs is a new strategy. What should it be. ? Read more

Tags: electricity, Energy companies, Gas, gas market, Gazprom, Russia
Posted in Electricity, Gas, Oil, Policy, Politics, Uncategorized, Utilities | Permalink

Whitehall at risk from Aunt Maude

March 10, 2013 3:24 pm by Nick Butler

Having been pretty critical of the Department Of Energy and Climate Change in the past it is time to come to its defence.

It seems that Mr Francis Maude the Cabinet Office Minister and effectively head of Britain’s civil service has told his cabinet colleagues in the last few days that a further £8bn of “efficiency savings” can be found from Whitehall and local government. Read more

Tags: civil service, Department of energy and climate change, public spending
Posted in Policy, Politics, Uncategorized | Permalink

The problems with Petrobras

February 7, 2013 10:50 am by Nick Butler

Petrobras is in a mess. The Brazilian state company makes promises year after year, only to disappoint. Worse still, the Brazilian government heaps on the pressure by trying to push up production targets. But it refuses for national political reasons to give the company the means and freedom to deliver.

To start with the good news. Petrobras keeps discovering huge volumes of oil and gas. The Lula field for instance is estimated to hold 8bn bbls of oil, making it a world-class elephant. Offshore Brazil is clearly one of the most prolific new provinces in the world.

That’s the end of the good news. The bad news is that Petrobras seems unable to either set or deliver credible development plans for the resources it holds. Read more

Tags: Brazil
Posted in Oil, Politics | Permalink

Shell’s bold shale gas investment in Ukraine

January 30, 2013 5:32 pm by Nick Butler

Ukraine deal confirms Shell's commitment to shale gas. Getty Images.

Shell’s decision to invest $10bn in the development of shale gas in Ukraine is certainly a significant move.

First, it confirms Shell’s commitment to shale and the company’s determination to override environmental objections to the technology of fracking. Shell believes shale can be developed safely and cleanly enough to avoid damaging either the environment or the company’s reputation. This move will help to confirm shale’s arrival in the mainstream of the energy market. Read more

Tags: Russia, Shell, Ukraine
Posted in Gas, Politics | Permalink

Could easing of Mideast tensions be a kosher swan?

January 25, 2013 11:19 am by Nick Butler

Tel Aviv, Israel's financial centre. Getty Images

There is much talk in Davos of black swans, grey swans and white swans. But what about a kosher swan?

For the uninitiated, black swans are unexpected events that have a dramatic impact and sweep away previous certainties and plans.

Tel Aviv is a long way from Davos and not many Israeli politicians find their way up the Magic Mountain, but Shimon Peres, Israel’s president, is a very rare exception. Read more

Tags: Iran, israel, oil prices
Posted in Gas, Oil, Politics, Resources | Permalink